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NYS Comptroller

THOMAS P. DiNAPOLI

Audits of Local Governments and School Districts

Report Highlights

Breesport Volunteer Fire Company, Inc. - Financial Activities (2019M-117)

Released: August 16, 2019 -- [read complete report - pdf]

Audit Objective

Determine whether Company officials ensured that financial activity was properly recorded and reported and that money was safeguarded.

Key Findings

  • Fundraising activities lacked adequate records and reports and cash was not safeguarded.
  • The Treasurer paid bills without prior review and approval from the Company.
  • The Directors did not submit an annual report on revenues and expenditures of foreign fire insurance tax proceeds or submit IRS Form 990 as required by law and the Company’s bylaws.

Key Recommendations

  • The Committee should establish controls for handling cash at fundraising events, and ensure members responsible for running fundraising activities create financial reports.
  • The Treasurer should pay bills after Company approval.
  • The Directors should file all necessary reports as required by applicable laws and regulations.

Company officials agreed with our recommendations and indicated they will take corrective action.

Background

The Breesport Volunteer Fire Company Inc. (Company) is a not-for-profit organization that provides fire protection and emergency rescue services to residents in the Towns of Horseheads and Erin in Chemung County.

The Company is governed by its adopted Bylaws and a seven-member Executive Committee (Committee) which consists of the President, Chief and five Directors (two Director positions were vacant at the completion of our fieldwork). The Company’s primary sources of revenues are foreign fire tax proceeds, a chicken barbecue and donations.

Quick Facts
2019 Active Members18
2018 Foreign Fire Insurance Tax proceeds$3,894
2018 Revenues$11,408
2018 Expenditures$8,071

Audit Period

January 1, 2018 – May 30, 2019


Local Government and School Accountability Contact Information:

Phone: (518) 474-4037; Email: localgov@osc.ny.gov
Address: Office of the State Comptroller, Division of Local Government and School Accountability
110 State Street, 12th Floor; Albany, NY 12236